Simpson Thacher is representing PRA Health Sciences (NASDAQ: PRAH) in the announced acquisition of Symphony Health Solutions, a provider of data, analytics and consulting solutions to the life sciences market, for an upfront cash payment of $530 million. The transaction is expected to close in the third quarter of 2017, subject to regulatory clearances and other customary closing conditions.
PRA Health Sciences is one of the world’s leading global contract research organizations, or CROs, by revenue, providing outsourced clinical development services to the biotechnology and pharmaceutical industries. PRA’s global clinical development platform includes more than 70 offices across North America, Europe, Asia, Latin America, South Africa, Australia and the Middle East and over 14,000 employees worldwide. Since 2000, PRA has participated in approximately 3,500 clinical trials worldwide. In addition, PRA has participated in the pivotal or supportive trials that led to U.S. Food and Drug Administration or international regulatory approval of more than 70 drugs.
The Simpson Thacher team includes Marni Lerner, Sung Jin and Eric Wisotsky (M&A); Catherine Burns (Banking and Credit); Larry Moss and Patricia Adams (ECEB); George Davis (Tax); and Lori Lesser and Melanie Jolson (IP).